February 2013: Businesses today are constantly looking for opportunities to secure cost-efficiencies. For occupiers, if a potential ‘uplift’ in rent has been budgeted for, valuable accrual provisions often remain in place for a number of years. The financial team will be keen to release these provisions. At Gilbert Evans we have a different approach that offers an affordable and tailored solution for occupiers wanting to release those unwanted accruals.
Our approach will increase the prospect of releasing budgetary accruals. We focus on ensuring the appropriate level of fee is paid for the actual level of work undertaken in bringing a rent review to a conclusion. We will make sure occupiers avoid paying disproportionate fees for long drawn-out negotiations on marginal rental increases and help identify those cases where outstanding rent reviews are likely to end up at third party.
In our experience, the best way to conclude any potential nil increase rent reviews is to be ‘on the landlord’s case’ and to be prepared to follow through with any ‘promised’ course of action. So when an occupier instructs valuers, rather than using in-house resources, it sends a strong message to the landlord that it means business.
The rationale behind this process is to simplify matters and provide advice specifically tailored to individual business needs. If you would like to discuss how Gilbert Evans can work with you to bring outstanding potential nil increases rent reviews to a conclusion and release valuable accrual provisions, then please contact David Gilbert.